Is the price of BTC affecting Gold?

Victorial

Active member
It is not new that the price of bitcoin has really dropped in recent days. The largest crypto in the world was trading at around the $67,000 price mark if not more before it suddenly dropped so low. Currently, it is trading at around the $57,000 price mark and it is finding it hard to cross the $60,000 mark.

However, during the tussle of the fall, many crypto coins dropped including the famous Shiba Inu. What baffles me is that the price of gold also fell in the last couple of days. I am a Forex trader, precisely the metal Gold, and I could not help but notice that as the price of bitcoin rises a little bit, gold will rise too.

This leaves me wondering if there is any correlation between these two
 
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